Why you should invest in Digital marketing
Why you should invest in Digital marketing
Professional companies understand that if they want to expand their brand, increase sales, and grow their businesses quickly, they need to invest money into their digital marketing efforts.
Its so important for you to determine how much to invest and which investments will give you the greatest return. You really do need to invest money in order to grow your practice.
INVEST MORE, SPEND LESS
About 20% of companies are planning to increase their traditional (offline) marketing budgets, with 55% of companies planning to keep their traditional (offline) marketing budgets the same over the next year.
As for digital marketing budgets, the number of companies increasing their spending has been remarkably consistent since 2009, and is 71% this year. Digital budgets have largely been insulated from spending cuts as more companies focus on their digital channels to drive business growth, as well as leads and sales conversions.
AN OPTIMAL MARKETING BUDGET TO DRIVE GROWTH
Developing a dynamic and cohesive marketing strategy has become essential if you want to grow your practice and profit in today’s competitive marketplace. Online marketing introduces and promotes products and services to your potential clients and patients. Without the implementation of dynamic online marketing strategies, those potential customers will not learn about your products and services, and your practice growth will be stunted if not halted altogether.
While some practitioners believe that they don’t need to have a strong online presence to be successful (yes, a lucky few are maintaining and even growing their revenues without a coherent digital marketing strategy), the reality is their clients and patients are increasingly turning to the Internet to help themselves with their buying decisions. Furthermore, with the increase in mobile adoption, more and more consumers are using their mobile devices to help them with their decisions.
The next time you are out and about, maybe even in our own reception area, pause and look around. How many of your customers have a smart phone in their hand and are looking at it? Have you noticed that number increasing almost by the day?
HOW MUCH DO YOU NEED TO ALLOCATE TO MARKETING?
As a general rule of thumb, new businesses are advised to invest at least 10% of their gross annual income into a Strategic Marketing Action Plan. However, Entrepreneur magazine advises businesses that want to grow to invest more time and money into their marketing — as much as 20-30% of their anticipated annual gross revenues, particularly if they are introducing new products or services.
These figures, of course, aren’t set in stone. Small business experts advise small businesses with revenues of less than $5 million to allocate between 7- 8% of their revenues to marketing.
DO IT YOURSELF OR LEAVE IT TO THE PROFESSIONALS
Sure, you can try and do everything at the same time — from directing core aspects of your business: such as business development, finance, supply chain, production, marketing, and sales; right down to online marketing—but is it worth your time and is it something you really want to do? Do your strengths and passion lie in marketing or in your particular health discipline?
While developing a dynamic marketing strategy is important for practitioners who want to drive growth, boost their profits, and increase their leads and sales conversions, setting aside the optimal marketing budget to drive these objectives can be a tricky and time consuming process.
Fortunately, we can help practice owners like you identify the ideal marketing budget for your organization to drive your marketing objectives and business goals.
Our free professional consultation includes a comprehensive research and analysis report, and an in-depth online marketing services blueprint, to help you better understand your current online presence, what your competitors are doing, and what actions need to be taken in order to drive your marketing and business goals.
We’ll make the effort to research and analyze your target market, your reputation, your brand, your marketing goals, your past marketing campaigns, your competitors, and your unique place in the health care industry to help us devise a sound online marketing strategy for you. Armed with this knowledge, we can then proceed with implementation so every step in the process and every milestone is aligned with your marketing goals.
Our online marketing services blueprint will outline the services that you need to meet your marketing objectives and business goals, with the corresponding timetable and a well-justified marketing budget.
Don’t miss this chance to obtain valuable intelligence and first-rate consultation from the experts. Call us now or send us a message so we can schedule your free consultation.